Dennis Hong
ShawSpring Partners
Dennis Hong (ShawSpring Partners) discloses a $268M portfolio across 12 US-listed positions in the latest 13F filing (2026Q1, filed May 14, 2026). The largest holding is OKTA at 16.6% of the book. The biggest move of the quarter: trimmed the OKTA share count by 36% (position now $44M). Latticework's clone backtest puts this 13F book at -5.2%/yr vs SPY over 7.3 years.
About Dennis Hong
Dennis Hong founded ShawSpring Partners as a concentrated, long-only equity vehicle oriented around what the firm describes as high-quality compounders — businesses with durable competitive advantages across technology and consumer internet. The 2026 Q1 13F reflects that disposition clearly: 12 disclosed positions, roughly $268M in long equity exposure, and a top-five concentration of 65% anchored by OKTA, AMZN, BABA, ZS, and BRZE. That kind of portfolio has meaningful single-name and sector risk; a reader should treat the filing as a reasonably complete picture of the book, since ShawSpring's strategy does not prominently feature shorts or derivatives that would render the 13F a partial view. The caveat worth noting is the 45-day disclosure lag — position sizing can shift materially before the data reaches the public. A Latticework clone backtest run over roughly seven years shows the disclosed longs have trailed SPY by approximately 5 percentage points annually, a gap consistent with the portfolio's tilt toward growth-oriented software names during a period of rate-driven multiple compression.
2026Q1 brief
ShawSpring Partners' $270M concentrated book underwent significant reconstruction in Q1 2026, with Dennis Hong's most telling move being a 57% add to AMZN (now 14.5%) alongside fresh initiation of ZS at 10.5% — together suggesting a pivot toward high-conviction cloud infrastructure and cybersecurity plays. The complete exits from FOUR, MNDY, and BLND (which collectively represented ~26% of the prior book) were dramatic, and deep cuts to PCOR (-68%) and CSGP (-65%) suggest Hong is stepping back from vertical SaaS with real-estate exposure. Offsetting that, new positions in CPNG (6.4%) and GDS (3.3%) introduce Asia e-commerce and data center exposure, echoing a theme visible across other super-investors this quarter. The 12-position, 65%-in-top-5 structure means conviction is extreme — OKTA at 16.6% despite a 36% trim remains the single largest bet in a book that is effectively a cloud security + Asia tech barbell. Watch whether ZS and OKTA compress toward parity or if one gets cut aggressively in Q2 as the cybersecurity thesis is refined.
AI-generated. Not investment advice.
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Holdings (12) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | OKTA | 16.6% | $44M | |||
| 2 | AMZN | 14.5% | $39M | |||
| 3 | BABA | 13.6% | $36M | |||
| 4 | ZS | 10.5% | $28M | |||
| 5 | BRZE | 9.8% | $26M | |||
| 6 | INTU | 6.6% | $18M | |||
| 7 | FWONK | 6.4% | $17M | |||
| 8 | CPNG | 6.4% | $17M | |||
| 9 | CSGP | 5.1% | $14M | |||
| 10 | PCOR | 4.6% | $12M | |||
| 11 | GDS | 3.3% | $9M | |||
| 12 | CEG | 2.4% | $6M |
- 1OKTAport16.6%val$44MOkta Incthis Q -36%·4q
- 2AMZNport14.5%val$39MAmazon.com Incthis Q +57%·2q
- 3BABAport13.6%val$36MAlibaba Group Holding-sp Adrthis Q -23%·2q
- 4ZSport10.5%val$28MZscaler Incthis Q New·—1q
- 5BRZEport9.8%val$26MBraze Inc-athis Q -24%·6q
- 6INTUport6.6%val$18MIntuit Incthis Q hold·15q
- port6.4%val$17MLiberty Media Corp-formula-cthis Q -45%·3q
- 8CPNGport6.4%val$17MCoupang Incthis Q New·12q
- 9CSGPport5.1%val$14MCostar Group Incthis Q -65%·6q
- 10PCORport4.6%val$12MProcore Technologies Incthis Q -68%·8q
- 11GDSport3.3%val$9MGds Holdings Ltd - Adrthis Q New·—1q
- 12CEGport2.4%val$6MConstellation Energythis Q New·—1q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| OKTA | Okta Inc | TRIM | 16.6% | -36% | $44M |
| AMZN | Amazon.com Inc | ADD | 14.5% | +57% | $39M |
| FOUR | Shift4 Payments Inc-class A | EXIT | 13.6% | -100% | $0 |
| BABA | Alibaba Group Holding-sp Adr | TRIM | 13.6% | -23% | $36M |
| CSGP | Costar Group Inc | TRIM | 5.1% | -65% | $14M |
| ZS | Zscaler Inc | NEW | 10.5% | +100% | $28M |
| BRZE | Braze Inc-a | TRIM | 9.8% | -25% | $26M |
| PCOR | Procore Technologies Inc | TRIM | 4.6% | -68% | $12M |
| MNDY | Monday Com Ltd | EXIT | 7.1% | -100% | $0 |
| FWONK | Liberty Media Corp-formula-c | TRIM | 6.4% | -45% | $17M |
| CPNG | Coupang Inc | NEW | 6.4% | +100% | $17M |
| BLND | Blend Labs Inc-a | EXIT | 5.2% | -100% | $0 |
| GDS | Gds Holdings Ltd - Adr | NEW | 3.3% | +100% | $9M |
| CEG | Constellation Energy | NEW | 2.4% | +100% | $6M |
- TRIMOKTA16.6%Okta IncΔ -36%·$44M
- ADDAMZN14.5%Amazon.com IncΔ +57%·$39M
- EXITFOUR13.6%Shift4 Payments Inc-class AΔ -100%·$0
- TRIMBABA13.6%Alibaba Group Holding-sp AdrΔ -23%·$36M
- TRIMCSGP5.1%Costar Group IncΔ -65%·$14M
- NEWZS10.5%Zscaler IncΔ +100%·$28M
- TRIMBRZE9.8%Braze Inc-aΔ -25%·$26M
- TRIMPCOR4.6%Procore Technologies IncΔ -68%·$12M
- EXITMNDY7.1%Monday Com LtdΔ -100%·$0
- TRIMFWONK6.4%Liberty Media Corp-formula-cΔ -45%·$17M
- NEWCPNG6.4%Coupang IncΔ +100%·$17M
- EXITBLND5.2%Blend Labs Inc-aΔ -100%·$0
- NEWGDS3.3%Gds Holdings Ltd - AdrΔ +100%·$9M
- NEWCEG2.4%Constellation EnergyΔ +100%·$6M
Frequently asked questions
- What stocks does Dennis Hong own?
- As of 2026Q1, Dennis Hong's 13F discloses 12 positions worth $268M. The top five holdings: OKTA (16.6%), AMZN (14.5%), BABA (13.6%), ZS (10.5%), BRZE (9.8%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Dennis Hong buy this quarter?
- In 2026Q1, the filing shows 4 new positions and 1 addition to existing holdings. The largest positions touched by buying: AMZN, ZS, CPNG, GDS, CEG.
- How big is Dennis Hong's portfolio?
- $268M across 12 positions per the latest 13F (filed May 14, 2026). The top five holdings account for 65% of the disclosed book.
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001766908). Not investment advice.